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Optro Unveils Business Continuity Management Solution

Optro, formerly known as AuditBoard, recently launched a revolutionary Business Continuity Management (BCM) solution aimed at helping organizations maintain critical business operations during disruptions. The announcement was made during the global CRX EMEA conference in London, where Optro showcased its latest advancements in Governance, Risk, and Compliance (GRC) powered by Artificial Intelligence (AI).

In today's rapidly evolving business landscape, operational interruptions can be detrimental. More than half of business leaders tend to overestimate their resilience in the face of such challenges. A recent report published by Optro revealed that while 92% of leaders expressed confidence in their recovery plans, less than half successfully met their objectives during actual disruptions. Moreover, nearly 40% of these interruptions cost businesses over a million dollars.

Understanding the New BCM Solution

Optro's BCM solution is designed to bridge the gap between risk management and operational response by providing a comprehensive view of business processes alongside their dependencies, responsibilities, suppliers, and associated risks. This platform offers several critical features:

• - Comprehensive Mapping: Users can visualize the key business processes and their related dependencies in a unified view within the Optro platform. This helps organizations understand the critical areas that need protection and planning.
• - Always Updated Plans: The solution allows for real-time updating of continuity plans linked to business processes, ensuring that recovery objectives, criticality assessments, and scenario evaluations are accurate as conditions change.
• - Realistic Simulations: Organizations can connect simulation exercises directly to their business continuity plans, automatically including all related processes and dependencies for a thorough analysis of their readiness.

Real-World Applications

According to Kate Marechal, Head of Operational Risk and Risk Services at Shawbrook Bank, the BCM solution will allow organizations to better understand their operational essentials. With insights gathered from one integrated platform for audit, risk, and compliance, companies will enhance their strategic planning in anticipation of potential disruptions.

Happy Wang, Optro's Chief Product and Technology Officer, emphasized the need for more than just confidence in continuity plans. He stated, "Many organizations rely on paper-based continuity plans. However, when faced with real interruptions, fewer than half meet their established recovery goals. With our BCM solution, clients will seamlessly integrate their business continuity programs with their audit, risk, and compliance data, leading to proactive strategies and genuine operational resilience."

Visit Optro at CRX EMEA

For those interested in seeing the new BCM solution in action, Optro encourages attendees of the CRX EMEA conference to visit their demonstration booth. This initiative highlights Optro’s commitment to transforming risk into opportunity through its innovative AI-driven GRC platform.

Optro aims to redefine how businesses view and manage risk, ensuring that they are equipped not only to respond to incidents but also to thrive despite them. Over 50% of Fortune 500 companies trust Optro with their GRC needs, marking it as a leader in the field.

To learn more about how Optro can help transform your approach to risk management, visit Optro.ai or download the full report on their findings regarding business continuity failures.